bonus depreciation or not

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  • JBTAXMAN
    Junior Member
    • Mar 2020
    • 1
    #1

    bonus depreciation or not

    Business owner has an old work vehicle engine needing to be replaced in 2019. Has taken mileage is the past on the truck. Might it be better to bonus depreciate the entire vehicle than to fix it and stay with mileage?
    Tags: None
    • Jiggers
      Senior Member
      • Sep 2005
      • 1973
      #2
      If he has been using mileage for his expenses, the truck has been depreciated because the mileage rate includes depreciation.
      Jiggers, EA

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        • Dude
          Senior Member
          • Dec 2018
          • 360
          #3
          Tell him to be a good capitalist and help out the economy: buy a new one (or new to him) and then depreciate it. He must use it 50% or more for business. Now is a great time to buy a truck
          "Dude, you are correct" Rapid Robert

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